Mark Vitner Quotes
We're just now realizing how badly off the economy was in the second quarter... The wider trade gap, along with the weakness we saw in the business inventory numbers that came out this week and weaker construction spending, will probably result in a second-quarter revised GDP number that will be zero or even slightly negative. It will be an eye-opening number, but it's no more worrisome than what we've seen. 
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Realizing | Badly | Economy | Quarter | Wider |
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While core finished goods are still relatively tame, there are signs that price increases are accelerating further back in the production pipeline... Typically the Fed continues tightening until this series tops out. But with prices up only modestly, they will likely continue to make only modest adjustments.
- Mark Vitner
The most recent acceleration in productivity growth looks like it was cyclically driven... Even with output soaring, many businesses were reluctant to boost hiring because the Fed was hiking interest rates and energy costs were surging. Even if businesses wanted to hire more workers, many could not because the labor markets were so tight.
- Mark Vitner